Forex news for Asia trading Wednesday 15 January 2020
- Wednesday will bring the US-China trade deal signing - what to watch
- Yamaha warns people not to climb inside instrument cases after Ghosn escape
- Kansas City Federal Reserve Bank President Esther George spoke Tuesday - recap
- About that China trade data on Tuesday - less upbeat than meets the eye
- Dems debate in the US now - Sanders says again he does not support the new NAFTA
- NZ employment market data - Job advertisements at their lowest level in four years
- JP Morgan technical analysis says S&P500 not even close to a bubble - more to go
- PBOC adds more liquidity: injects 300bn yuan in 1year MLF
- UBS is calling for 3 Federal Reserve rate cuts this year. Yes, three!
- US-China phase 1 trade deal signing ceremony to take place at 11.30am at the White House
- CBA like GBP lower - weak GDP, likely BoE rate cut
- PBOC sets USD/ CNY reference rate for today at 6.8845 (vs. yesterday at 6.8954)
- FX option expiries for Wednesday January 15 at the 10am NY cut
- China rumour - PBOC to inject funds in medium term lending today (MLF)
- Bank of Japan Governor Kuroda says CPI is moving around 0.5%
- The tease continues - Mnuchin says China trade deal documents will be released on Wednesday
- The US admin is assessing 250m USD military aid cut if its troops are ordered out of Iraq
- US moving to further block sales of foreign-made goods to China’s Huawei
- US President Trump has said to Apple they should unlock murderers phone
- CA forecast a Bank of England rate cut
- Here is an investment management firm expecting no Fed rate hike … for the next 10 years
- US Treas Sec Mnuchin says tariffs on China to remain in place until phase 2
- US Sec State Pompeo - national security consequences of doing business with … Chinese Communist Party
- Why EUR isn't higher - remarkable underperformance
- Trade ideas thread - Wednesday 15 January 2020
- NZ data - food price index for December -0.2% m/m (Nov. was -0.7%)
- Oil - privately surveyed inventory report shows a headline build
- The US and China have reached no agreement for future tariff reductions (Lighthizer & Mnuchin joint statement)
It was a day of small ranges for the major currencies, maybe the signing of the US-China trade deal can clear the decks. The ceremonial signing is due on Wednesday at 11.30am Washington time (1630GMT). Of more focus will be the actual text of the deal and what comes out of that. The text should come very soon after signing. You'll notice in the bullets above that Treasury Secretary Mnuchin spent a bit of time watering down expectations, which suggests there may be room for positive surprises.
We saw the PBOC add further mid-rate strength to the onshore yuan today and also inject a hefty 400bn yuan via OMOs and MLF. Apart from that FX-related news and data was slow indeed, as was trading. Ranges were tight indeed.
Gold eked out a gain, its up around 5 dollars from earlier lows.
Time to shine boys!
